DOCSLIB.ORG

A Study on Apollo Tyres.Ltd, Kalamassery”

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
A Study on Apollo Tyres.Ltd, Kalamassery” PROJECT REPORT “A STUDY ON APOLLO TYRES.LTD, KALAMASSERY” SUBMITTED BY ATHUL.C.A 15P35H0239 UNDER THE GUIDANCE OF Ms. NIVIYA FESTON SENIOR ASST. PROFESSOR NEW HORIZON COLLEGE MASTERS OF BUSINESS ADMINISTRATION BHARATHIAR UNIVERSITY COLLEGE CODE: KA 11 B 131 2015-17 STUDENT’S DECLARATION I hereby declare that this project entitled A STUDY ON WORKING CAPITAL MANAGEMENT AT APOLLO TYRES.LTD, KALAMASERY was prepared by me during the year 2016-17 and was submitted in partial fulfillment of the requirements for Master Degree in Business Management of Bharathiar University.I also de clare that this project report is original and genuine and has not been submitted to any other university of the award of any degree, diploma or other similar titles or purposes. DATE: ATHUL C A PLACE: bangalore 15P35H0239 GUIDE CERTIFICATE. This is to certify that the project report entitled A STUDY ON WORKING CAPITAL MANAGEMENT AT APOLLO TYRES.LTD , KALAMASSERY submitted by ATHUL C A bearing registration number 15P35H0239 to Bharathiar University for the partial fulfillment of Master Degree in Business Management is an outcome of genuine research work carried under my guidance and it has not been submitted for the award of any other degree, diploma or prize. DATE: PLACE:Bangalore Ms.NIVIYA FESTON HOD CERTIFICATE This is to certify that ATHUL C A bearing registration number 15P35H0264 is a bonafide student of this college. The project work entitled A STUDY ON WORKING CAPITAL MANAGEMENT AT APOLLO TYRES.LTD ,KALAMASSERY is a work carried out by him/her for partial fulfillment of the requirements for Master Degree in Business Management of Bharathiar University during the year 2016-17 .It is certified that all corrections/suggestions have been incorporated in the project report and a copy is deposited in the department library. This project work has been approved as it satisfied the academic requirement of Master Degree in Business management . DATE: PLACE: Bangalore DR. SHEELANMISRA PRINCIPAL’S CERTIFICATE This is to certify that ATHUL.C.A bearing registration no. 15P35H0239 is a bonafide student of this college. The project work entitled A STUDY ON WORKING CAPITAL MANAGEMENTAT APOLLO TYRES.LTD ,KALAMASSERY is a work carried out by him/her in partial fulfillment of the requirements for Master Degree in Business Management of Bharathiar University during the year 2016-17 DATE: PLACE: Bangalore Dr . R.BODHISATVAN ACKNOWLEDGEMENT I wish to pledge and reward my deep sense of gratitude for all those who have made this project come alive. I would like to express my heart-felt gratitude to Dr. SHEELAN MISRA, Head of Department of Management Studies, New Horizon College for her valuable suggestions and moral support throughout the course of my project. I am gratefully indebted to my internal faculty guide, Ms. NIVIYA FESTON, Asst. Professor, Department of Management Studies, New Horizon College, for encouraging me and for his constant support throughout the course of the project and helping me complete it successfully. A special note of gratitude goes to my external guide Mr. MANEESH M S , Head – HR, APOLLO TYRES Ltd. for providing me an opportunity to work in this corporate exposure and for his support and guidance in this endeavor. I wish to thank all the people who have helped me to work on my project. I finally thank my family and friends for their constant support and guidance. ATHUL C A CHAPTER CONCEPT PAGE NO. CHAPTER 1 INTRODUCTION 01-10 1.1 Meaning 01 1.2THEOROTICAL 02 CONCEPTS 1.3 APPROACHES TO 07 MANAGING WORKING CAPITAL 1.4 TYPES OF WORKING 07 CAPITAL 1.5 PRINCIPLES OF 08 WORKING CAPITAL 1.6 METHODS OF 10 ESTIMATING WORKING Chapter 2 INDUSTRY AND 11-21 COMPANY PROFILE 2.1 INDUSTRY PROFILE 11 2.2 COMPANY PROFILE 15 2.3 PRODUCT PROFILE – 21 APOLLO TYRE BRANDS Chapter 3 RESEARCH DESIGN 27-29 3.1 Meaning 27 3.2 RESEARCH 27 APPROACH 3.3 Tools of Data Analysis 27 3.4 Statement of Problem 28 3.5 Objectives of the Study 28 3.6 Scope of the Study 28 3.7 Limitations of Study 28 3.8 Period of study 29 3.9ANALYSIS OF 29 WORKING CAPITAL CHAPTER 4 RATIO ANALYSIS 30-70 4.1 MEANING 30 4.2 STATEMENT OF 34 CHANGES IN WORKING CAPITAL 4.3 TREND ANALYSIS 35 4.4 ANALYSIS AND 36 INTERPRETATION CHAPTER 5 FINDINGS SUGGESTIONS 71-75 CONCLUSION 5.1 FINDINGS 71 5.2 SUGGESTIONS 74 5.3 CONCLUSION 75 BIBLIOGRAPHY ANNEXURE LIST OF GRAPHS SL. NO. PARTICULARS PAGE NO. 2.1 Major domestic players their market share 14 2.2 Share holding period 17 RATIO ANALYIS 4.1 Net working capital 36 4.2 Current ratio 38 4.3 Quick asset ratio 39 4.4 Absolute liquid ratio 41 4.5 Cash ratio 43 4.6 Inventory turnover ratio 44 4.7 Inventory holding period 47 4.8 Debtors turnover ratio 48 4.9 Average collection period 51 4.10 Creditors turnover ratio 52 4.11 Average payment period 55 4.12 Working capital turnover ratio 56 4.13 Current asset turnover ratio 59 4.14 Net profit ratio 60 TREND ANALYSIS 4.15 Trend analysis of expected sales 68 4.16 Trend analysis of expected profit 70 LIST OF TABLES SL. PARTICULARS PAGE NO. NO. 2.1 Board of Directors of Apollo Tyres Ltd. 18 2.2 Management board of Apollo Tyres Ltd. 19 Ratio Analysis 4.1 Net working capital 36 4.2 Current ratio 38 4.3 Quick asset ratio 39 4.4 Absolute liquid ratio 41 4.5 Cash ratio 43 4.6 Inventory turnover ratio 44 4.7 Inventory conversion period 45 4.8 Debtors turnover ratio 46 4.9 Average collection period 48 4.10 Creditors turnover ratio 50 4.11 Average payment period 52 4.12 Working capital turnover ratio 54 4.13 Current asset turnover ratio 56 4.14 Net profit ratio 60 Analysis on the basis of schedule of changes in working capital 4.15 2011-12 62 4.16 2012-13 63 4.17 2013-14 64 4.18 2014-15 65 4.19 2015-16 66 Trend Analysis 4.20 Trend analysis of net sales 67 4.21 Trend analysis of expected sales 68 4.22 Trend analysis of profit 69 4.23 Trend analysis of expected profit 70 CHAPTER I INTRODUCTION CHAPTER II INDUSTRY PROFILE CHAPTER III RESEARCH DESIGN CHAPTER IV DATA ANALYSIS AND INTERPRETATION CHAPTER V FINDINGS SUGGESTIONS AND CONCLUSION BIBLIOGRAPHY ANNEXURE Working capital management Apollo Tyres Ltd 1.INTRODUCTION 1.1 Meaning Working Capital Management is significant in financial management due to the fact that it plays a vital role in keeping the wheel of the business running. Every business requires capital, without which it cannot be prompted. It holds exceptional importance in the case of a manufacturing company. This study is undertaken to find out the efficiency and effectiveness of the working capital management in the company and to provide useful feedbacks. Apollo Tyres Ltd. is one of the largest tyre manufacturing companies across the world. The company started its production of tyres way back in the year 1977, it holds the 2nd position in India and 14th position in the world. The company currently has 9 plants in India, South Africa and Zimbabwe. Apollo Tyres exports its products to Africa, the Middle East, South America, Asia-Pacific and Europe. This Project Titled ‘A Study On Working Capital Management At Apollo Tyres Ltd.’ is a deliberate and systematic endeavor to study the working capital management system in the Indian tyre giant. Under this study, analysis has been done for the last five years from 2011-2012 to 2015-2016. Various secondary sources like annual report of the company, journals, theoretical text, publications in web, financial inputs from the management staff etc. were utilized to undertake the study. The study is mostly made from the financial analysis tools like ratio analysis, cash conversion cycle, schedule of changes in working capital position etc. The limitation may reflect in the result of this study also. NEW HORIZON COLLEGE Page 1 Working capital management Apollo Tyres Ltd The study tries to compare the working capital management in the company and other competitors in Indian market to know the efficiency and shortcomings of the system. Analysis has been done by comparing the industrial ratio with the ratios recorded by the company. This project also tries to study about the components in the current asset to know the level of consistency over the years. From the study it is clear that the overall working capital management system is very efficient paring few drawbacks. The company showed high consistency in most of the areas of working capital and also met the industrial average and even surpassed them in some cases. It is found that the company’s performance in some areas is commendable and in few area require more attention. The company should rectify the shortcomings in its working capital management system with utmost care to achieve global standards and thereby becoming Benchmark Company in this particular sector. 1.2 THEOROTICAL CONCEPTS Working capital is a financial metric which represents operating liquidity available to a business, organization or other entity, including government entry. Along with fixed assets, working capital is considered a part of operating capital. Gross working capital equals to current assets. Working capital is calculated as current assets minus current liabilities. If current assets are less than current liabilities, an entity has a working capital deficiency, also called a working capital deficit. A company can be endowed with assets and profitability but short of liquidity if its assets cannot readily be converted into cash.
Load more

Recommended publications
  • Download Full Report
    CONTENTS 02 Unstoppable Corporate overview We have been persistent 02 Unstoppable in our aim to establishing 04 Chairman’s Message and maintaining market leadership to be able to achieve 06 Vice Chairman’s Message unprecedented growth for our 08 Board of Directors stakeholders. 10 Management Board 12 Key Performance Highlights 14 14 Integrated Report Integrated Report 28 Management Discussion & Analysis Apollo Tyres’ contribution 51 Sustainability Snapshot to social and economic development is critical to create and sustain an enabling environment for investment. This has enabled the Company’s positioning as a credible Statutory Reports stakeholder partner. 84 Board’s Report 95 Annual Report on CSR 28 102 Business Responsibility Report Management 126 Corporate Governance Report Discussion & Analysis Financial Statements 161 Standalone Financial Statements 223 Consolidated Financial Statements UNSTOPPABLE Since inception, we have worked towards establishing ourselves as a leading player in the sale and manufacture of tyres. We have been persistent in our aim to establishing and maintaining market leadership and be able to achieve unprecedented growth for our stakeholders. In FY2018-19 (FY2019), we continued to focus We are unstoppable in establishing our on our key revenue generating regions APMEA leadership across multiple segments. (Asia Pacific, Middle East and Africa, including Our consistently advancing product range coupled India) and Europe. We expanded our presence in with product innovations are enabling us to achieve Americas by added new territories and increasing the same. our value proposition. The APMEA operation continued its focus on consolidating its leadership We are unstoppable in working towards achieving and enhancing share in India through the cutting edge manufacturing capabilities and introduction of best in class and technologically world-class R&D.
    [Show full text]
  • IN the BUSINESS of PROGRESS CONTENTS Apollo Tyres in Brief
    Annual Report 2019-20 IN THE BUSINESS OF PROGRESS CONTENTS Apollo Tyres in brief 01-03 Apollo Tyres is one of the most trusted Corporate factsheet names in the manufacture and sale of tyres. The Company was founded in 1972 and is 04-13 headquartered in Gurugram, Haryana (India). Leadership and governance 06 Chairman’s message 08 Vice-Chairman’s message 10 Board of Directors Catering to all tyre segments 12 Management Team TRUCK AND BUS LIGHT TRUCK 14-77 Performance and progress 16 Key performance indicators 18 Know our capitals 20 Business model 22 Capital-wise information 36 Progress amidst volatility 38 Progress that is sustainable 40 Progress through people centricity 42 Value created for the stakeholders PASSENGER VEHICLES TWO-WHEELER 78-93 Management Discussion & Analysis 94-170 Statutory Reports 94 Board’s Report 107 Annual Report on CSR 113 Business Responsibility Report 138 Corporate Governance Report OFF-HIGHWAY 171-305 Financial Statements 171 Standalone 233 Consolidated Apollo Tyres’ success as a leading tyre such as: geo-political relations, economic manufacturer is inextricably linked with the growth, industry cyclicality, environmental progress of the people, the businesses we issues, technological innovation, safety and partner and the planet at large. We have consumer attitudes. Our FY20 performance is always persevered to exceed expectations, a reflection of the resulting uncertainties. It set new benchmarks and in some cases, is also a testament to our foundational values shape the future of the industry. and intrinsic strengths that have helped us navigate through these uncertainties. Our marquee brands, Apollo and Vredestein, enjoy premium positions in the commercial As we step into a new decade, replete with and passenger vehicle tyre segments in unexplored opportunities, we are keen on India and Europe, respectively.
    [Show full text]
  • Annexure to the Board Report | L&T Annual Report 2019-20
    Annexure ‘A’ to the Board Report and EnPI reduction of CG moulding energy consumption. Information as required to be given under Section 134(3) zz Implemented Smart COMM Energy Management (m) read with Rule 8(3) of the Companies (Accounts) system at ASW & Digital Dashboard. Rules, 2014. zz Replacement of conventional light fittings with [A] CONSERVATION OF ENERGY: Solar lighting system in SSII, Open yard-5 and (i) Steps taken or impact on conservation of Grit blasting & painting areas at Production/ energy: Utility areas at EWL Kancheepuram factory and Kansbahal works. zz Implementation of LED lights in HE-Hazira campus and other project sites and Solar Pipes in zz Replacement of conventional MH Lamps and SG fabrication area. fluorescent tube lights by LED lamps in working areas at office and projects as well as for street zz Installation of an Off Grid Mini-Solar Power Plant for meeting the energy requirement of site & lights. workmen habitats at Ranchi Smart City Project. zz Installation of energy efficient water coolers and submersible pumps zz Installed Local Pre/ Post Weld Heat Treatment (PWHT) using PID Technology which ensures zz Replacing existing aged inefficient Split AC units uniform heating and reduction in energy with energy efficient units wastage. zz Utilization of Chiller for HVAC System – Campus zz Implemented the use of Metal Halide (400 Watt) FMD initiated and control the chiller running EOT Crane under bay lights with LED Lights. hour for HVAC need during holidays and extended working hours. zz Installed Energy efficient burners for Furnaces and pre heating. zz Initiative has been taken for replacement of Air-Cooled Chiller with Water Cooled Chiller.
    [Show full text]
  • The Indian Automotive Supplier Report Supplierbusiness
    IHS AUTOMOTIVE The Indian Automotive Supplier Report SupplierBusiness 2015 edition supplierbusiness.com REGIONAL REPORT Indian Subcontinent SAMPLE IHS Automotive | Supplying Ford Contents Executive Summary 4 – Renault-Nissan third largest exporter 30 – Tata’s exports expected to decrease 30 Indian Economy and Business Environment 6 – Ford ups capacity in India to boost exports 30 Volatile GDP growth in BRICS 7 – Volkswagen increases exports from India 31 Per capita GDP seen rising 8 – Honda to grow exports from India 31 Inflation in check, for now 8 – GM to turn India into a global export hub 31 Consumer demand expected to improve 9 Foreign investments going up 9 Overview of Automotive Supplier Industry 32 Industrial production recovers 10 Speed bumps 33 Shrinking exports, a cause for concern 10 Positive sentiment returns 33 Indian currency expected to depreciate mildly in 2015, – Engine parts, the largest segment 33 2016 11 – AMT to gain traction 34 – Chassis production 35 The Indian Automotive Market 13 – Interiors production 35 – Maruti Suzuki boosts sales with new models 14 – Exteriors production 35 – Hyundai increases market share 15 – Thermal component production 35 – Mahindra stays leader of SUV segment 16 – Market share of HVAC systems suppliers 36 – Tata Motors plans to reclaim lost ground 16 – The proliferation of car security systems 36 – Honda strengthens position in India with diesel cars Top 10 automotive suppliers in India 36 17 – Motherson Sumi System Limited 37 Key trends in the Indian LV market 18 – Amtek Auto 37 – Hatchback
    [Show full text]
  • Asian Daily EPS, TP and Rating Changes Top of the Pack
    Thursday, 13 February 2014 (Global Edition) Asian Daily EPS, TP and Rating changes Top of the pack ... EPS TP (% change) T+1 T+2 Chg Up/Dn Rating Commonwealth Bank 3 2 0 0 U (U) Asia Equity Strategy Sakthi Siva (3) Australia New report: Cyclicals have outperformed defensives YTD. Continue? China Mengniu Dairy (6) (7) 20 25 O (O) PRADA S.p.A. (10) (12) (5) 29 O (O) India IT Services Sector Anantha Narayan (4) Apollo Tyres 8 2 10 22 O (O) Is it too crowded for further performance? Cipla Limited (6) 0 0 1 N (N) Jaiprakash Power Ventures (60) (17) (14) 107 O (O) Page Industries 3 3 2 13 O (O) Asia Technology Sector Keon Han (5) Perusahaan Gas Negara (1) 1 2 31 O (O) New report: LED—entering expansion phase Softbank 0 0 — R (R) UMW Oil & Gas 0 (7) 31 3 N (N) China Mengniu Dairy (2319.HK) – Maintain O Kevin Yin (6) Universal Robina Corp. 1 1 0 18 O (O) 2014 outlook: Should pass through 10% raw milk price inflation; EPS likely to grow 35.9% YoY Huaku Development (3) (1) (5) 32 O (O) Novatek Microelectronics 3 1 3 (18) U (U) CS pic of the day Sinopac Holdings 2 2 3 8 N (N) AIS PCL (4) (7) (4) 29 O (O) Global general lighting and LED lighting market size Siam City Cement 0 (2) (5) 0 U (U) The LED general lighting industry is now shifting from the initial penetration phase to a rapid expansionary TAC PCL 0 0 0 44 O (O) phase.
    [Show full text]
  • List of Nodal Officer
    List of Nodal Officer Designa S.No tion of Phone (With Company Name EMAIL_ID_COMPANY FIRST_NAME MIDDLE_NAME LAST_NAME Line I Line II CITY PIN Code EMAIL_ID . Nodal STD/ISD) Officer 1 VIPUL LIMITED [email protected] PUNIT BERIWALA DIRT Vipul TechSquare, Golf Course Road, Sector-43, Gurgaon 122009 01244065500 [email protected] 2 ORIENT PAPER AND INDUSTRIES LTD. [email protected] RAM PRASAD DUTTA CSEC BIRLA BUILDING, 9TH FLOOR, 9/1, R. N. MUKHERJEE ROAD KOLKATA 700001 03340823700 [email protected] COAL INDIA LIMITED, Coal Bhawan, AF-III, 3rd Floor CORE-2,Action Area-1A, 3 COAL INDIA LTD GOVT OF INDIA UNDERTAKING [email protected] MAHADEVAN VISWANATHAN CSEC Rajarhat, Kolkata 700156 03323246526 [email protected] PREMISES NO-04-MAR New Town, MULTI COMMODITY EXCHANGE OF INDIA Exchange Square, Suren Road, 4 [email protected] AJAY PURI CSEC Multi Commodity Exchange of India Limited Mumbai 400093 0226718888 [email protected] LIMITED Chakala, Andheri (East), 5 ECOPLAST LIMITED [email protected] Antony Pius Alapat CSEC Ecoplast Ltd.,4 Magan Mahal 215, Sir M.V. Road, Andheri (E) Mumbai 400069 02226833452 [email protected] 6 ECOPLAST LIMITED [email protected] Antony Pius Alapat CSEC Ecoplast Ltd.,4 Magan Mahal 215, Sir M.V. Road, Andheri (E) Mumbai 400069 02226833452 [email protected] 7 NECTAR LIFE SCIENCES LIMITED [email protected] SUKRITI SAINI CSEC NECTAR LIFESCIENCES LIMITED SCO 38-39, SECTOR 9-D CHANDIGARH 160009 01723047759 [email protected] 8 ECOPLAST LIMITED [email protected] Antony Pius Alapat CSEC Ecoplast Ltd.,4 Magan Mahal 215, Sir M.V. Road, Andheri (E) Mumbai 400069 02226833452 [email protected] 9 SMIFS CAPITAL MARKETS LTD.
    [Show full text]
  • Annual Report 2016-17
    Annual Report 2016-17 apollotyres.com REACH Corporate Overview Introduction 1 Chairman’s Message 2 Vice Chairman’s Message 4 THE Board of Directors 6 Management Board 8 Performance Highlights 10 Management Discussion and 12 Analysis Report Sustainability Report 32 WORLD Statutory Reports Board’s Report 54 HIGHLIGHTS Annual Report on CSR 65 Business Responsibility Report 75 2016-17 Corporate Governance Report 98 Financial Statements `140.53 Bn Standalone Financial Statements 124 Gross Sales Consolidated Financial 194 Statements `39.02 Bn Capital Expenditure 15.8% ROE `10.99 Bn Net Profit `20.01 Bn EBITDA REACH india hungary WORLD where to next? At Apollo Tyres, we are building tyres for the future of transportation and mobility. As we do this, we are transforming ourselves both from a product and markets perspective. Building on our core competencies, strength and brand, we are aspiring to ‘Reach the World’, by manufacturing in different countries, expanding our distribution networks, and growing our brand associations. We are creating a distinctly ‘glocal’ culture in our organsiation, where we are thinking like a global organisation and yet, aligning ourselves to local needs in each geography we operate. At the same time, we are proud of being an Indian brand, and representing the best of technology, operations and thinking on the world stage. In FY17, we took many steps that furthered our aim of reaching the world. These include the inauguration of our Hungary plant and the Global R&D centre. These, however, are just stepping stones to achieving our cherished vision. As we do this, we are equally committed to ‘reach’ each of our stakeholders, and create value for them, in ways that are credible and meaningful.
    [Show full text]
  • Sharekhan Special August 31, 2021
    Sharekhan Special August 31, 2021 Index Q1FY2022 Results Review Automobiles • Capital Goods • Consumer Discretionary • Consumer Goods • Infrastructure/Cement/Logistics/Building Material • IT • Oil & Gas • Pharmaceuticals • Agri Inputs and Speciality Chemical • Miscellaneous • Visit us at www.sharekhan.com For Private Circulation only Q1FY2022 Results Review In-line quarter, healthy outlook Results Review Results Summary: After ending FY2021 on a strong note, Q1FY2022 earnings of broader indices showed a promising start (Nifty/ Sensex companies’ PAT rose 100%/66% y-o-y) in the new fiscal with strong growth momentum on low base. Management commentaries on earnings outlook remained positive, on improving economic activity post second COVID-19 wave and anticipation of strong demand revival. Demand recovery and ramp-up of vaccinations look encouraging. We expect economic activity to increase in the upcoming festive season. Nifty trades at 23x and 20x EPS based on FY2022E/FY2023E EPS, at a premium to mean average. Valuation gap between large and mid-caps has shrunk, we advise investors to focus on stocks with strong earnings growth potential with reasonable valuation. High-conviction investment ideas: o Large-caps: Infosys, ICICI Bank, M&M, L&T, UltraTech, SBI, HDFC Ltd, Godrej Consumer Products, Divis Labs and Titan. o Mid-caps: NAM India, BEL, Gland Pharma, Dalmia Bharat, Laurus Labs, Max Financial Services, LTI. o Small-caps: TCI Express, Kirloskar Oil, Suprajit Engineering, Repco Home Finance, PNC Infratech, Mahindra Lifespaces, Birlasoft. After ending FY2021 on a strong note, Q1FY2022 corporate earnings of broader indices showed a promising start with continued strong growth momentum on the low base of Q1FY2021, though it was along the expected lines.
    [Show full text]
  • S.No. Scrip Name Symbol Series Leverage (In Times) 1 MARICO
    SCRIPS AVAILABLE FOR INTRADAY WITH LEVERAGES PROVIDED ON THEM Leverage Scrip Name Symbol Series (in times) S.No. 1 MARICO LIMITED MARICO 7.61 2 DABUR INDIA LIMITED DABUR 7.92 3 HINDUSTAN UNILEVER LIMITED HINDUNILVR 7.48 4 COLGATE PALMOLIVE (INDIA) LIMITED COLPAL 7.48 5 NESTLE INDIA LIMITED NESTLEIND 7.39 6 Alkem Laboratories Limited ALKEM 6.91 7 TATA CONSULTANCY SERVICES LIMITED TCS 7.24 8 DR. REDDY'S LABORATORIES LIMITED DRREDDY 6.54 9 PIDILITE INDUSTRIES LIMITED PIDILITIND 7.07 10 GODREJ CONSUMER PRODUCTS LIMITED GODREJCP 5.79 11 POWER GRID CORPORATION OF INDIA LIMITED POWERGRID 6.46 12 ACC LIMITED ACC 6.61 13 NTPC LIMITED NTPC 6.64 14 ITC LIMITED ITC 7.05 15 ASIAN PAINTS LIMITED ASIANPAINT 6.52 16 BRITANNIA INDUSTRIES LIMITED BRITANNIA 6.98 17 BERGER PAINTS (I) LIMITED BERGEPAINT 6.78 18 EXIDE INDUSTRIES LIMITED EXIDEIND 6.89 19 HDFC BANK LIMITED HDFCBANK 6.63 20 DIVI'S LABORATORIES LIMITED DIVISLAB 6.69 21 MRF LIMITED MRF 6.73 22 INDIAN OIL CORPORATION LIMITED IOC 6.49 23 BAJAJ AUTO LIMITED BAJAJ-AUTO 6.64 24 SIEMENS LIMITED SIEMENS 6.40 25 THE RAMCO CEMENTS LIMITED RAMCOCEM 6.23 26 TORRENT POWER LIMITED TORNTPOWER 6.10 27 UNITED BREWERIES LIMITED UBL 6.16 28 INFOSYS LIMITED INFY 6.82 29 CIPLA LIMITED CIPLA 6.52 30 Pfizer Limited PFIZER 6.41 31 PETRONET LNG LIMITED PETRONET 6.45 32 UNITED SPIRITS LIMITED MCDOWELL-N 6.24 33 CADILA HEALTHCARE LIMITED CADILAHC 5.97 34 WIPRO LIMITED WIPRO 6.10 35 SUN PHARMACEUTICAL INDUSTRIES LIMITED SUNPHARMA 6.18 36 BATA INDIA LIMITED BATAINDIA 6.44 37 LARSEN & TOUBRO LIMITED LT 6.38 38 ULTRATECH CEMENT
    [Show full text]
  • Result Review
    RESULT REVIEW SELL TP: Rs 140 | 37% APOLLO TYRES | Auto Components | 13 May 2021 Margin headwinds ahead; maintain SELL Apollo Tyres (APTY) delivered an operational beat in Q4FY21 led by better margins Mayur Milak | Nishant Chowhan, CFA in European operation. Consolidated revenue dipped 3% QoQ to Rs 50bn, [email protected] EBITDA margin dropped 300bps to 16.2% (–500bps est.), and adj. PAT fell 36% QoQ to Rs 2.9bn. We expect consolidated margins to remain stressed given steep RM cost inflation, higher share of the lower-margin India business, and an adverse product mix as OEM demand returns in FY22. Current valuations at 25x FY23E EPS look rich – retain SELL with an unchanged Mar’22 TP of Rs 140. European operations cushion margin: APTY’s consolidated Q4FY21 revenue Ticker/ Price APTY IN /Rs 221 totalled Rs 50bn ( –3% QoQ) on higher volume growth across segments. Market cap US$ 1.7bn Though India operations reported a below-expected 38.6% gross margin, Shares o/s 572mn 3M ADV US$ 25.3mn outperformance in Europe cushioned the decline in consolidated EBITDA 52wk high/low Rs 261/Rs 89 margin to 300bps QoQ (vs. a 500bps contraction expected). Adj. PAT Promoter/FPI/DII 41%/23%/17% decreased 36% QoQ to Rs 2.9bn. Source: NSE Margin headwinds ahead: With a 12% QoQ cost rise in the raw material basket in Q4, a further expected increase of ~10% QoQ in Q1FY22 and the inability of tyre STOCK PERFORMANCE companies to fully pass on the burden, we anticipate further margin erosion. Also, (Rs) APTY our FY21-FY23 revenue forecast at 14% CAGR for Indian operations vs.
    [Show full text]
  • Momentum Pick
    Momentum Picks Open Recommendations New recommendations Gladiator Stocks Date Scrip I-Direct Code Action Initiation Range Target Stoploss Duration 1-Oct-21 Nifty Nifty Sell 17520-17545 17482/17430 17583.00 Intraday Scrip Action 1-Oct-21 ONGC ONGC Buy 142.50-143.00 144.25/145.70 141.20 Intraday Hindalco Buy PICK MOMENTUM 1-Oct-21 UPL UPL Sell 707.00-708.00 700.60/693.80 714.60 Intraday Bata India Buy 30-Sep-21 Trent TRENT Buy 1010-1025 1125 948.00 30 Days HDFC Buy 30-Sep-21 Dhampur Sugar DHASUG Buy 290-294 312 282.00 07 Days Duration: 3 Months Click here to know more… Open recommendations Date Scrip I-Direct Code Action Initiation Range Target Stoploss Duration 29-Sep-21 SJVN SJVLIM Buy 28.3-29 31.50 27.00 14 Days 29-Sep-21 National Aluminium NATALU Buy 92-94 101.00 86.50 07 Days Intraday recommendations are for current month futures. Positional recommendations are in cash segment Retail Equity Research Retail – October 1, 2021 For Instant stock ideas: SUBSCRIBE to mobile notification on ICICIdirect Mobile app… Research Analysts Securities ICICI Dharmesh Shah Nitin Kunte, CMT Ninad Tamhanekar, CMT [email protected] [email protected] [email protected] Pabitro Mukherjee Vinayak Parmar [email protected] [email protected] NSE (Nifty): 17618 Technical Outlook NSE Nifty Daily Candlestick Chart Domestic Indices Day that was… Open High Low Close Indices Close 1 Day Chg % Chg Equity benchmarks concluded the monthly expiry session on a subdued note tracking mixed global cues.
    [Show full text]
  • Annexure 1B 18416
    Annexure 1 B List of taxpayers allotted to State having turnover of more than or equal to 1.5 Crore Sl.No Taxpayers Name GSTIN 1 BROTHERS OF ST.GABRIEL EDUCATION SOCIETY 36AAAAB0175C1ZE 2 BALAJI BEEDI PRODUCERS PRODUCTIVE INDUSTRIAL COOPERATIVE SOCIETY LIMITED 36AAAAB7475M1ZC 3 CENTRAL POWER RESEARCH INSTITUTE 36AAAAC0268P1ZK 4 CO OPERATIVE ELECTRIC SUPPLY SOCIETY LTD 36AAAAC0346G1Z8 5 CENTRE FOR MATERIALS FOR ELECTRONIC TECHNOLOGY 36AAAAC0801E1ZK 6 CYBER SPAZIO OWNERS WELFARE ASSOCIATION 36AAAAC5706G1Z2 7 DHANALAXMI DHANYA VITHANA RAITHU PARASPARA SAHAKARA PARIMITHA SANGHAM 36AAAAD2220N1ZZ 8 DSRB ASSOCIATES 36AAAAD7272Q1Z7 9 D S R EDUCATIONAL SOCIETY 36AAAAD7497D1ZN 10 DIRECTOR SAINIK WELFARE 36AAAAD9115E1Z2 11 GIRIJAN PRIMARY COOPE MARKETING SOCIETY LIMITED ADILABAD 36AAAAG4299E1ZO 12 GIRIJAN PRIMARY CO OP MARKETING SOCIETY LTD UTNOOR 36AAAAG4426D1Z5 13 GIRIJANA PRIMARY CO-OPERATIVE MARKETING SOCIETY LIMITED VENKATAPURAM 36AAAAG5461E1ZY 14 GANGA HITECH CITY 2 SOCIETY 36AAAAG6290R1Z2 15 GSK - VISHWA (JV) 36AAAAG8669E1ZI 16 HASSAN CO OPERATIVE MILK PRODUCERS SOCIETIES UNION LTD 36AAAAH0229B1ZF 17 HCC SEW MEIL JOINT VENTURE 36AAAAH3286Q1Z5 18 INDIAN FARMERS FERTILISER COOPERATIVE LIMITED 36AAAAI0050M1ZW 19 INDU FORTUNE FIELDS GARDENIA APARTMENT OWNERS ASSOCIATION 36AAAAI4338L1ZJ 20 INDUR INTIDEEPAM MUTUAL AIDED CO-OP THRIFT/CREDIT SOC FEDERATION LIMITED 36AAAAI5080P1ZA 21 INSURANCE INFORMATION BUREAU OF INDIA 36AAAAI6771M1Z8 22 INSTITUTE OF DEFENCE SCIENTISTS AND TECHNOLOGISTS 36AAAAI7233A1Z6 23 KARNATAKA CO-OPERATIVE MILK PRODUCER\S FEDERATION
    [Show full text]